Real Estate & Editors' Choice News in Bulgaria from Propertyshowrooms.com

Bulgaria property prices down by 0.8%

Wed, 4 Aug 2010 00:00:00 GMT

Consumers looking to find property in Bulgaria may choose to take advantage of falling property prices in the East European country.

House prices fell during the second quarter of 2010 by an average of 0.8 per cent compared to Q1, reported Property Wire.

According to the National Statistical Institute (NSI), 13 Bulgarian towns and cities saw a decline in their housing markets, most notably in Gabrovo where prices were down 8.3 per cent between April and June 2010.

Despite the drop in market value, Address, a real estate consultants, claimed that overall Bulgaria's property prices have increased by 300 per cent over the last ten years.

The NSI stated Bulgarian property prices peaked between July and September 2008 at 1418 leva per square metre.

Meanwhile Bulgaria's construction sector has also seen decline, reported the Sofia Echo last month. Figures released by the NSI showed Bulgaria's construction industry had seen a 3.7 per cent fall during May 2010 thought to be a result of a drop in real estate and infrastructure construction.

Budget flights could boost Bulgarian property

Tue, 22 Jun 2010 00:00:00 GMT

News that a number of low-cost flights are set to be launched to Bulgaria could open up the country's real estate market to new investors.

Ryanair has announced that it is planning to introduce the routes, which will head to Bulgaria's second largest city Plovdiv, from September this year.

The government has revealed that it will be investing 40 million leva into a passenger terminal in the city, with many of the airport's services currently being unused, Property Abroad has reported.

As a result of the new flights, people who let out property in the region could find their residences are subject to strong demand this year.

This could have the positive consequence of boosting their value and allowing investors to collect higher rental returns.

Colliers International Bulgaria recently claimed that Bulgarian real estate could experience a resurgence in interest, with analysts predicting that bargain prices, good supply and better credit conditions will bolster the market.

According to the company's most recent research paper, falling prices and flexibility on the side of developers is helping to boost the demand for real estate.

Bulgarian property market favours the buyer

Tue, 16 Mar 2010 00:00:00 GMT

The property market in Bulgaria is near the bottom at the moment, making now the ideal time for investors to take advantage of a stabilising market with low prices, it has been reported.

An article by Quest Bulgaria drew attention to the fact that currently the market favours the buyer and as such could represent a good time to find a dream home.

The online property and lifestyle magazine compiled a list of buying tips for the country to ensure potential investors don't make unnecessary decisions.

Among the tips offered include making sure enough research is carried out into the location of the property.

"Look at where the locals are buying as a good indication of good areas. This also means the property market in that area is supported by Bulgarians, making it easier to sell should you wish to do so," the article suggested.

Furthermore, it also recommended taking advantage of private "expat" sales, where investors could have the opportunity to pick up renovated property with sizable discounts of anything from 30 to 50 per cent.

Overseas investment company Property Venture recently named Bulgaria as one of the best destinations for investment in 2010.

Bulgarian property market experiences growth

Tue, 7 Jul 2009 00:00:00 GMT

Bulgaria's property market witnessed a slight expansion during 2008 when compared with the previous year, new data has revealed.

Investors considering purchasing property in Bulgaria are advised that prices climbed by 0.1 per cent last year, despite the global economic downturn, the Sofia Echo reports.

The figures from the National Statistical Institute suggest that almost two-thirds of the total housing stock (63.5 per cent) is in towns and cities and there were 2.13 million residential buildings in 2008, containing 3.76 million units.

Covering 240.706 million square metres, Bulgaria's total housing inventory primarily comprises two and three-room units (65.3 per cent), with cities Pernik and Sofia having the highest proportion of homes per 1,000 people.

Industry magazine Quest suggested recently that Bulgaria offers expatriates a better quality of life, with lower levels of stress, a cheaper cost of living, local natural foods, fewer cars on the roads and a slower pace.

Bulgaria prices 'at market value'

Wed, 10 Jun 2009 00:00:00 GMT

The average price of property in Bulgaria is now close to reaching its real market value, it has been stated.

Speaking to Darik Radio, chair of the National Real Property Association Lachezar Iskrov said the level of prices was now close to being the right one, although he could not say when prices will begin to rise again, Novinite.com reports.

Mr Iskrov listed a number of places as being good ones for property investors to buy in.

He commented that most investors look for two-room apartments in Sofia, with the best districts to buy in being Lyulin and Druzhba for mid-range property, while South Park remains the most prestigious.

Mr Iskirov stated prices for good properties are now at around €1,000 to €1,200 (£1,034) per sq m.

The cost of a mortgage for those buying a property in the country may have fallen for many after a recent base rate cut.

Bulgaria's central bank trimmed its base rate at the start of last month from 3.53 per cent to 2.27 per cent.

Bulgaria flagged up as lucrative investment market

Mon, 18 Aug 2008 00:00:00 GMT

Foreign property buyers could be able to collect healthy returns in Bulgaria, according to industry experts.

Investment company Aston Lloyd said emerging destinations across the world tend to be highly lucrative markets for second home buyers.

Bulgaria was flagged up as one such location, as property values are relatively affordable when compared with many other places.

However, prices in the eastern European country were said to have gone up by more than a third last year, which means it also offers good capital growth prospects.

Joe Upchurch, director of Aston Lloyd, commented: "Owning something in these areas may not impress your neighbours just yet, but in a few years they may well be jealous."

The organisation added that Bulgaria, which became a member of the EU in 2007, is set to receive nearly £9 billion in funding from Europe over the next five years.